Analysts Set AAR Corp. (NYSE:AIR) PT at $49.57
Shares of AAR Corp. (NYSE:AIR) have been assigned an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $49.17.
Several research firms have recently issued reports on AIR. Stifel Nicolaus began coverage on AAR in a report on Monday, July 8th. They issued a “buy” rating and a $50.00 target price for the company. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Canaccord Genuity reduced their target price on Western Energy Services from C$0.50 to C$0.40 in a report on Wednesday, March 20th. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.
A number of hedge funds and other institutional investors have recently made changes to their positions in AIR. Comerica Bank raised its position in AAR by 1.0% in the fourth quarter. Comerica Bank now owns 31,997 shares of the aerospace company’s stock worth $1,169,000 after acquiring an additional 332 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new stake in AAR in the fourth quarter worth about $463,000. BlackRock Inc. raised its position in AAR by 3.6% in the fourth quarter. BlackRock Inc. now owns 6,159,968 shares of the aerospace company’s stock worth $230,014,000 after acquiring an additional 214,712 shares in the last quarter. Texas Permanent School Fund raised its position in AAR by 4.9% in the fourth quarter. Texas Permanent School Fund now owns 21,325 shares of the aerospace company’s stock worth $796,000 after acquiring an additional 997 shares in the last quarter. Finally, Raymond James & Associates raised its position in AAR by 5.9% in the fourth quarter. Raymond James & Associates now owns 10,641 shares of the aerospace company’s stock worth $397,000 after acquiring an additional 596 shares in the last quarter. 89.40% of the stock is owned by institutional investors and hedge funds.
AAR (NYSE:AIR) last released its earnings results on Wednesday, July 10th. The aerospace company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $562.70 million during the quarter, compared to analyst estimates of $529.49 million. AAR had a return on equity of 9.75% and a net margin of 0.37%. AAR’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. On average, sell-side analysts forecast that AAR will post 2.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 19th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, July 18th. AAR’s dividend payout ratio is presently 12.71%.
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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